Overnight, a change was announced to the mortgage lending rules of the Central Bank. In essence, it has become harder for second-time buyers to move on. We are all well aware of the chronic difficulties in the housing market. Apparently, the change is based on a presumption that second-time buyers are more settled and secure than first-time buyers. While that might be the position in a normally functioning market, many people coming out of negative equity and a recession are not in that position. This issue has a knock-on effect on supply because first-time buyers who face a lack of new builds will not be able to buy a home in the second-hand market which has been throttled. That, of course, in turn, has a knock-on effect on the rental market as there is no supply at that stage. The whole pyramid is throttled. I am aware that there is a limit to the extent to which the Government can instruct the Central Bank, but there are fora such as the Central Bank Commission in which policy matters can be discussed. I am sure it is not beyond the ingenuity of the Government to tackle this issue in other ways also. This is a real issue for many buyers and it affects the market as a whole. I hope the Government can address it.

As the Deputy has just indicated, as a Government, we do not play a role in any decision the Central Bank makes on criteria for access to loans to purchase homes. The only legislative relationship in this area requires that we be informed of what the Central Bank is doing, but it makes its decision and announces it. As the Deputy said, there are other measures at which we are looking to increase the supply of homes. There are also measures in the Finance Bill which I hope will be passed in the Seanad soon. I hope those measures will address some of the issues raised by the Deputy.